Thursday, January 10, 2008

Freddie Mac Distressed Counties in California

Number 2 is playing a huge role right now because all lenders have now cut the LTV by 5% in any declining area that Freddie or Fannie recognizes. This alone shuts out nearly everyone who bought in California in the last 3 yrs who did 90% financing or more.
Notice Los Angeles County is classified as "distressed" while Riverside & San Bernardino counties are "severely distressed".